In my experience, the power lost to the dimmer switch itself is negligible; the dimmer can get slightly warm, but if the power lost to it were more than a couple of watts, the switch itself would get very hot after a while.
Seconded. I bought one of these and went around testing all my appliances. Unlike a simple multimeter that tells you voltage or current (but rarely actual power consumption), the Kill-A-Watt meter tells you a device’s actual power consumption, and if you input a cost-per-kilowatt-hour (usually around ten cents; the actual number can be found on your electric bill), it’ll tell you how much an appliance costs to run.
In my case, my PC eats up 75 watts (0.075 kilowatts) while it’s on; so running it for a month costs me about $5.40. Other peripherals, and their monthly cost (YMMV):
-wireless router, 4 watts ($0.29)
-cable modem, 5 watts ($0.36)
-Logitech sound system, 4 speakers + subwoofer: 23 watts ($1.66)
-30" LCD monitor: 50 watts ($3.60)
The monitor isn’t on all the time (maybe an hour a day), so it’s not actually costing me $3.60 a month. However, the speakers are on 24/7, and they consume 23 watts whether they’re making noise or not. That was a big surprise for me.
There have been claims in the past that “standby power” consumption for many devices was outrageously high. the Kill-A-Watt meter has shown this to not be the case for many of the things I own. My DVD player and receiver both show “0” on the Kill-A-Watt when they’re turned off. My cell phone charger consumes just half a watt when it’s plugged in but not charging a phone. My old VCR used 5 watts when not playing a tape, but at least it was displaying a clock for that.
On the news this morning they were villifying DVR’s for their “high” power consumption. I have a TiVo, but have not yet checked it with the Kill-A-Watt meter. However, according to this, it consumes 35-40 watts around the clock, costing $2.52-$2.88 per month.